A credit to an asset account indicates a(n)

A) error.
B) credit was made to a liability account.
C) decrease in the asset.
D) increase in the asset.

Question

A credit to an asset account indicates a(n)A) error.B) credit was made to a liability account.C) decrease in the asset.D) increase in the asset.

Ayush Jaiswal · Accepted Answer

Final Answer : C, Explanation :  A credit to an asset account typically indicates a decrease in the value of that asset, as assets are increased by debits and decreased by credits according to the rules of double-entry bookkeeping.

A credit to an asset account indicates a(n)

A) error.
B) credit was made to a liability account.
C) decrease in the asset.
D) increase in the asset.

Definitions

Learning Objectives

Learning Objectives

Related questions

A credit to an asset account indicates a(n) A) error.B) credit was made to a liability account.C) decrease in the asset.D) increase in the asset.

Definitions

Learning Objectives

Learning Objectives

Related questions

A credit to an asset account indicates a(n)

A) error.
B) credit was made to a liability account.
C) decrease in the asset.
D) increase in the asset.